Saving is easier said than done
Posted Apr 20, 2011 1:16 pm.
This article is more than 5 years old.
A new TD Canada Trust survey has found only about 30 per cent of Canadians have enough cash put away in a rainy day fund to cover their household expenses in the event they lost their job.
Tom Price who is a VP with the bank in Calgary says most people need to brush up on their financial literacy.
Price says the best way to save for the future is to set up a system with your bank where a certain percentage of your pay-cheque is automatically deposited in a savings account.
In other words, out of sight, out of mind.
The biggest reason cited by people as to why they are having trouble saving money is they’re using their cash to service debt.
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